ARK-O Holding Comp. v. TDS Telecom. Corp.
Within the telecommunications industry, companies’ financial and operational
transactions are separated into accounts and recorded in companies’ continuing property records
(“CPR”). Certain natural groupings of these transactions are often referred to as transaction
cycles, business processes, functions, or activities. The concept, however, is the same in each
case (i.e., the natural groupings represent what happens within the company on a consistent and
continuing basis).